Graco Inc. $GGG Shares Sold by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. reduced its position in Graco Inc. (NYSE:GGG) by 98.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,505 shares of the industrial products company’s stock after selling 94,067 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Graco were worth $127,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GGG. Geneos Wealth Management Inc. boosted its holdings in Graco by 982.6% in the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 452 shares during the last quarter. Field & Main Bank purchased a new stake in Graco during the 4th quarter worth approximately $41,000. Root Financial Partners LLC increased its holdings in Graco by 43.2% during the 1st quarter. Root Financial Partners LLC now owns 504 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 152 shares during the last quarter. Matrix Trust Co increased its holdings in Graco by 43.0% during the 4th quarter. Matrix Trust Co now owns 555 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 167 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of Graco by 41.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 746 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 219 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GGG. Robert W. Baird decreased their price target on shares of Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Royal Bank Of Canada reiterated an “outperform” rating and set a $95.00 price objective on shares of Graco in a research note on Friday, April 24th. Weiss Ratings lowered shares of Graco from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. Finally, DA Davidson restated a “neutral” rating and issued a $85.00 target price on shares of Graco in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $94.25.

Graco Price Performance

GGG stock opened at $73.29 on Thursday. Graco Inc. has a 1-year low of $73.03 and a 1-year high of $95.69. The firm has a fifty day moving average price of $75.91 and a two-hundred day moving average price of $83.35. The firm has a market cap of $12.16 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 2.42 and a beta of 0.93.

Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). Graco had a return on equity of 18.66% and a net margin of 22.96%.The business had revenue of $540.14 million during the quarter, compared to the consensus estimate of $561.35 million. During the same quarter in the previous year, the business posted $0.70 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, analysts expect that Graco Inc. will post 3.1 EPS for the current fiscal year.

Graco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th will be paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Monday, July 20th. Graco’s payout ratio is presently 38.44%.

Insider Buying and Selling

In related news, Director Andrea Helen Simon bought 1,240 shares of the stock in a transaction dated Monday, April 27th. The stock was bought at an average cost of $80.53 per share, with a total value of $99,857.20. Following the completion of the acquisition, the director owned 1,240 shares of the company’s stock, valued at $99,857.20. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.18% of the stock is currently owned by insiders.

Graco Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.